The Nature And Purpose Of Economic Activity pt.2

Question 1

Economic welfare

Answer 1

level of wealth and quality of living standard in an economy

Question 2

Examples Of Economic Welfare

Answer 2

Real incomes- influence consumption
Happiness levels- happier people more production
Enviroment- growth causes pollution which can cause health issues
Leisure time- if low, people are unhappy and no productive
Education- if high/ usually more job opportunities for those